Last week, the tech-heavy Nasdaq and the S&P 500 extended their winning streaks, marking a fifth straight week of gains. This was largely driven by NVIDIA's impressive earnings report, which saw its share price surge by 15%. As we enter the last week of May, the Nasdaq is up a phenomenal 7.84% MTD, on track for its sixth month of gains from seven from its October low. The S&P 500 cash is up 5.34%, and the Dow Jones has gained 1253 points or 3.32%. As a side note, the tech sector's outperformance may result in some rebalancing month-end flows later this week from real money accounts. The gains for benchmark indices this month have come despite hawkish Fed Speak and resilient data, which has seen the rates market scale continue to scale back expectations of Fed rate cuts. After pricing in ~170 bp of Fed rate cuts as of mid-January, there are now just 33 bp of rate cuts currently priced for 2024. However, with earnings season winding up, macro data will likely retake the spotlight. This week's key macro events will include speeches by several Fed officials, CB Consumer Confidence, personal income and spending data, and the Fed's preferred measure of inflation, the Core PCE Price Index. #OPINIONLEADER# #BeginnerTalk# #trading# #DailyViewTrade#